Ignore reports of imminent fuel shortage – NPA

The National Petroleum Authority (NPA) has asked the public to disregard talk of a possible fuel shortage in the next few days, assuring that there is enough fuel for consumers.

“We, therefore, encourage the media and the general public to disregard any projections being put out in the public domain as merely speculative without any empirical basis,” a statement from the NPA issued on Wednesday February 15 said.

Earlier, the Institute of Energy Security (IES) had announced an impending fuel scarcity in the country in the coming weeks.

A press statement signed and released on Tuesday, February 14 by Richmond Rockson, Principal Research Analyst at the Petroleum Unit of IES, said: “Ghana’s fuel supplies are expected to face serious disruptions due to the unanticipated shutdown of the Tema Oil Refinery (TOR) and port congestion facing the oil companies, which is compelling them to postpone their import and export programmes amid acute discharge and loading constraints.”

The statement indicated that as a result, stocks of the two main petroleum products consumed in the country “have fallen short of the mandatory strategic level of six weeks, at a time when economic activities have picked up across the country after the general election and Christmas festivities”.

According to IES, at the close of business on February 13, “the country’s stock of gasoline and gasoil at both the Tema Oil Refinery and the Bulk Oil Storage and Transportation Company (BOST) installations across the country was 86,000 metric tonnes.

“Also, the stocks held in-tank at Bulk Oil Distribution Companies’ (BDCs’) facilities in Tema stood at 24,750 metric tonnes. A year ago, the combined stock of these fuel stood at 451,200 metric tonnes, a little above the mandatory six weeks’ requirement,” the Chamber added.

The statement emphasised that the current stock of gasoline and gasoil combined can meet “just 13 days of fuel supply”.

IES further stated that “the last time the country came close to this situation was in June 2014 and this actually resulted in fuel shortages in the country”.

IES criticised authorities in the country pointing out that “the current situation was anticipated when the explosion of the furnace occurred at TOR few weeks ago,” adding: “That was the moment when the government and relevant agencies should have taken the necessary steps to forestall any such incident, especially when it was followed up with a disruption of the Conventional Buoy Mooring (CBM) facility in Tema.”

However, the NPA maintains: “There are no challenges at the discharging terminals at the country’s ports and ensures that there is fairness in the process leading up to the discharge of cargos of all importers.”

Below is a copy of the statement from the NPA:

NO FUEL SHORTAGE

The National Petroleum Authority (NPA) wishes to assure the general public that there is sufficient supply of fuel in the country to meet domestic demand contrary to some speculations in sections of the media.

The current stock position in the country indicates there is over 200 million litres of gasoil and more than 100 million litres of petrol at various depots throughout the country.

These stocks are expected to last up to 6weeks. Additionally, over 73 million litres of gasoil and 46 million litres of petrol are expected to be delivered into the country from the 13th to 18th February 2017.

The NPA continuously monitors the weekly schedule of fuel imports to ensure that there is constant supply of fuel for the country.

The Authority wishes to assure the general public that there are no challenges at the discharging terminals at the country’s ports and ensures that there is fairness in the process leading up to the discharge of cargoes of all importers.

We therefore encourage the media and the general public to disregard any projections being put out in the public domain as merely speculative without any empirical basis. We further encourage all such interested organizations to crosscheck their information with the NPA before making public statements about this matter.

The NPA wishes to assure all motorists and consumers that there is no imminent shortage of fuel in the country.